About FWD Group
FWD Group (1828.HK) is a pan-Asian life and health insurance business that serves approximately 34 million customers across 10 markets, including BRI Life in Indonesia. FWD's customer-led and tech-enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience. Established in 2013, the company operates in some of the fastest-growing insurance markets in the world with a vision of changing the way people feel about insurance. FWD Group is listed on the main board of the Hong Kong Stock Exchange under the stock code 1828.
For more information, please visit www.fwd.com
About FWD Life Philippines
FWD Life Insurance Corporation (FWD Life Philippines) launched its commercial operations in September 2014. As of end-2022, FWD Life Philippines ranks 3rd and 6th in terms of Paid-up Capital(1) and New Business Annual Premium Equivalent(2), respectively.
For more information, please visit fwd.com.ph.
1 www.insurance.gov.ph > Statistics > Life > 2022 > Based on Paid-Up Capital
2 www.insurance.gov.ph > Statistics > Life > 2022 > Based on New Business Annual Premium Equivalent
Job Purpose:
Collaborating with Finance and Life Operations, this role delivers the agency policy conservation programs and overall agency budget reporting and coordination plus agency support general services which may be assigned from time to time.
Key Responsibilities:
Planning, implementation and management of business conservation programs.
- Lead for agency channel and in collaboration with life operations. Identify tasks and processes for both teams with SLA.
- Implement, improve existing programs and implement new initiatives for orphan policy management
- Increase and run effective policy adoption / transfer of business- Promote reinstatement campaigns across agency via policy, incentives, programs, education and influence towards the agency force.
Management and efficacy of agency channel budget as linked to APE and other KPIs within allowable plus Offices budget within allowable (Hubs,GA)
- Budget planning and administration (Management opex, capex, distribution operations allowance (DOA), customer related expenses benefits (CRE), hub/GA offices)
- Analyze agency strategic plan, determine budget provision, consult agency BU's on budget requirements and benefits to strategy.
- Allocate and prioritize budget, establish unit costs and expense policy, correlate benefits to stratplan, align with Finance, implement expense controls, seek sign-off from agency BU's and CAO.
- Prepare all CARs and coordinate with Finance for sign-off, methodology, timelines, cost center creation/allocation, uploads to budget systems, accruals
- Conduct quarterly/semi-annual review with tracking of spend and benefits with agency BU heads to ensure alignment to Strat plan.
- Prepare, seek sign off and submit annual / periodic reporting requirements and as necessary, for audit.
Evaluation of strategic projects, agency initiatives and business case requirements.
- Design and implement an agency project review framework (e.g. IRR, APE uplift, opex ratio) to support evaluation of key initiatives (DOA, CRE, agency offices, GA's, new initiatives) e.g. Contests, IRP, department programs, tactical incentives)
- Review and evaluate all agency projects pre, whilst, and post implementation to guide agency BU heads and support CAO/management decisions
Financing/DOU planning and administration
- Plan the annual financing/DOU schedule / allocation in consultation with SMT, correlate DOU with Strat plan APE and metrics
- Act as the administrator of the DOU program (databases, contracts, coordination with Finance on validation, payout authorization, exception handling)
- Conduct quarterly/semi-annual review of spend and benefits with Agency BU Heads to ensure alignment to Strat plan
Job Requirements
- Preferred with bachelor's degree from business administration, management, economics, accountancy, or applied mathematics
- 3-5 experience on agency administration, project evaluation, expense modelling and analytics preferably in the life / non life insurance industry.
- Has experience in projects as SME, cost controller, workstream member, and/or leader.
- Experience in life insurance agency or banca administration, training, sales, finance or operations are a plus.
- Highly proficient in MS Excel (i.e pivots, look-ups, tables and charts) to support reporting and database management requirements.
- Ability to analyze budget requirements, correlate to stratplan, and evaluate feasibility of projects
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